Canada Pension Plan Investment Board Acquires 153,421 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Canada Pension Plan Investment Board boosted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 151.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,721 shares of the insurance provider’s stock after acquiring an additional 153,421 shares during the quarter. Canada Pension Plan Investment Board owned 0.07% of Arch Capital Group worth $23,546,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wedge Capital Management L L P NC lifted its holdings in shares of Arch Capital Group by 28.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 205,698 shares of the insurance provider’s stock valued at $15,277,000 after buying an additional 46,089 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Arch Capital Group by 19.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 89,148 shares of the insurance provider’s stock valued at $6,621,000 after buying an additional 14,233 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Arch Capital Group by 31.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 201,790 shares of the insurance provider’s stock valued at $14,945,000 after buying an additional 48,587 shares during the period. Gladstone Capital Management LLP raised its holdings in Arch Capital Group by 52.8% in the 4th quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider’s stock worth $102,887,000 after purchasing an additional 478,570 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Arch Capital Group by 61.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock worth $237,017,000 after purchasing an additional 1,216,080 shares during the period. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Trading Up 2.6 %

Shares of Arch Capital Group stock traded up $2.44 on Friday, hitting $96.91. 1,108,464 shares of the company traded hands, compared to its average volume of 1,275,830. The stock’s 50 day moving average price is $99.59 and its 200-day moving average price is $92.42. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $103.79. The company has a market cap of $36.39 billion, a PE ratio of 7.65, a PEG ratio of 1.57 and a beta of 0.58.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.39. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.77 billion. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The company’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Equities research analysts predict that Arch Capital Group Ltd. will post 8.59 EPS for the current year.

Insider Activity at Arch Capital Group

In related news, CEO David Gansberg sold 10,000 shares of Arch Capital Group stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $96.64, for a total transaction of $966,400.00. Following the transaction, the chief executive officer now directly owns 228,035 shares of the company’s stock, valued at $22,037,302.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ACGL has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price target on Arch Capital Group from $96.00 to $106.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Evercore ISI raised their price objective on Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a research report on Tuesday, April 30th. Bank of America cut their price objective on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Finally, Roth Mkm restated a “buy” rating and set a $110.00 price objective on shares of Arch Capital Group in a research report on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.87.

Arch Capital Group Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.